Balancer Vulnerability Exploited: $900K Lost in Recent Attack
Balancer, an EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. automated market maker and decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... finance protocol, fell victim to an exploit just days after disclosing a vulnerability affecting its boosted pools. The attack resulted in a loss of nearly $900,000. The protocol’s team confirmed the incident on X, stating that while mitigation measures had reduced risks, affected pools could not be paused. To prevent further exploits, users were advised to withdraw funds from affected liquidity providers. The attacker’s EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. address received significant transfers of Dai stablecoin, bringing the total balance to over $893,978. Balancer had previously warned users about the vulnerability and urged them to migrate to safe pools or withdraw their funds.
Read the original HERE
